One of the Tax Advantages of Being Self-Employed (Rather Than

question 163

Multiple Choice

One of the tax advantages of being self-employed (rather than being an employee) is:

• A)The self-employment tax is lower than the Social Security tax.
• B)The cutback adjustment does not apply.
• C)The actual cost method for deducting the business use of an automobile can be selected.
• D)Job-related expenses are deductions for AGI.
• E)A deduction for an office in the home is available.

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Definitions:

Suicide

The intentional termination of one's own existence.

Cataracts

A medical condition in which the lens of the eye becomes progressively opaque, resulting in blurred vision.

Glaucoma

A condition involving abnormally high fluid pressure in the eye.

Hearing Loss

a partial or total inability to hear, which can be temporary or permanent, affecting one or both ears.